Portfolio

Heaton Eye Associates

Project Details


Financing Type:
Building Purchase & Renovation | Improved Buy-ins & Buyouts
Amount:
$12,300,000
State:
Texas
This ophthalmology group approached CMAC with the initial objective of funding the acquisition and renovation of an 80,000 sq ft building without coming out of pocket. CMAC worked with the practice to create a strategy and ultimately achieve its goals by leveraging its existing buildings. During the first phase of this project, the group secured the purchase loan for the building. Next, it refinanced the purchase loan and secured additional funding for renovations.

As part of the financing effort, CMAC consulted with the group to refresh its operating agreement to include adequate consideration for buy-ins and buyouts. The resulting alterations created a path to more affordable and attractive opportunities for new shareholders while providing a method of managing future buyouts.